Moody’s reassigns inVentiv B3 CFR

Moody's Investors Service said it reassigned inVentiv's B3 corporate family rating and B3-PD probability of default rating to a different entity in the legal structure, for administrative purposes.

The ratings, which previously resided at inVentiv Health, Inc., are now assigned to inVentiv Group Holdings, Inc.

There are no other changes to the company's ratings or the positive outlook.

All ratings at inVentiv Health, were withdrawn due to repayment of all outstanding debt obligations. Moody's also withdrew the speculative grade liquidity rating because inVentiv Group Holdings will not file public financial statements going forward.

Moody’s said these administrative actions follow reorganization of the corporate structure due to Advent International Corp.’s acquisition of a significant stake in inVentiv on Nov. 9. At that time, inVentiv Group Holdings was acquired by Double Eagle Parent, Inc. through a merger of its wholly owned subsidiary, Double Eagle Acquisition Sub, Inc., into inVentiv Group Holdings, which is the surviving entity going forward.

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